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View Diary: A Brief History of the Federal Insurance Contributions Act Tax (16 comments)

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  •  thank Roger Fox (5+ / 0-)


    Capital gains earners, should have to pay their "fair share, too.

    •  Higher effective tax rates on the rich (3+ / 0-)
      Recommended by:
      oldpotsmuggler, jamess, BusyinCA

      create a more balanced and stable economy, less income disparity and fewer, shallower and shorter economic downturns.

      For me, I dont buy the fair share meme, I just want an economy that doesnt crash every 20 yrs and has a recession every 5 years that displaces 15% to 30% of workers.

      .................expect us......................... FDR 9-23-33, "If we cannot do this one way, we will do it another way. But do it we will.

      by Roger Fox on Sat Oct 26, 2013 at 06:08:52 PM PDT

      [ Parent ]

    •  Cap gains tax used to be 28-30% (2+ / 0-)
      Recommended by:
      oldpotsmuggler, BusyinCA

      ITs what--- 15% now,,,,, erf...

      .................expect us......................... FDR 9-23-33, "If we cannot do this one way, we will do it another way. But do it we will.

      by Roger Fox on Sat Oct 26, 2013 at 06:11:15 PM PDT

      [ Parent ]

      •  25% at the top, so 30-ish to 35-ish (0+ / 0-)

        depending on the state.

        •  Fed Cap gains @25%? I cant find that data (0+ / 0-)

          Maybe you could lend a hand to a brother? And find and post a reasonable citation.....

          The short-term holding period is one year or less. Short-term capital gains are taxed at ordinary income tax rates, which range from 10% to 39.6% for the year 2013.

          The long-term holding period is more than one year. Long-term capital gains are taxed at long-term capital gains rates, which is usually less than ordinary tax rates. The long-term capital gains tax rate is either zero percent, 15%, or 20%, depending on your marginal tax bracket.

          In addition, high income taxpayers may have a 3.8% unearned income Medicare contribution tax applied to their capital gains and other net investment income. Thus the highest tax rate that could apply to capital gains income is 39.6+3.8= 43.4% on short term gains taxed at ordinary rates or 23.8% (20% + 3.8%) on long-term gains.

          http://taxes.about.com/...

          http://www.nerdwallet.com/...

          .................expect us......................... FDR 9-23-33, "If we cannot do this one way, we will do it another way. But do it we will.

          by Roger Fox on Sat Oct 26, 2013 at 06:39:21 PM PDT

          [ Parent ]

          •  I was just coming back to clarify, actually. (0+ / 0-)

            that's the combination of the new rate plus all our new phaseouts and taxes.  so 20% LTCG, 3.8% Medicare, and the Pease limitations is another 1.2% (3% * 39.6%).  

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